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Seafood Packaging Market Valuation to Rise up to ~US$6.5 Bn by 2027-End; Growing Demand for Variety of Seafood Primarily Driving Growth, Notes TMR
ALBANY, New York , Feb. 17, 2020 /PRNewswire/ -- Transparency Market Research has been keenly following the developments happening in the global seafood packaging market. According to the latest research report, the seafood packaging market is projected to exhibit a modest CAGR of ~5% for the given course of forecast period ranging from 2019 to 2027. The market was initially valued at around US$4.4 bn in 2019. Thus, with the given rate of growth market is on course to achieve even higher valuation by the end of the forecast period. The research report expects the market to cross the valuation more than US$6.5 bn by the fall of 2027.
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Companies operating in the global market are expected to focus on delivering superior end-use experience to their customers. Naturally, they are expected to spend more R&D activities in search of newer technologies. Some of the key brands in the global seafood packaging market are Amcor Plc. Smurfit Kappa, Sealed Air Corporation, Winpak Ltd., Crown Holdings Inc., AEP Industries Inc., DS Smith, Silgan Holding Inc., Toyo Seikan Co. Ltd., Visy Industries Holdings Pty Ltd., and Reynolds Group Holdings Ltd. among others.
– Rising worldwide health consciousness and growing consumer demand for high quality, fresh, minimally processed and ready-to-eat (RTE) food products is expected to drive the global antimicrobial seafood packaging market. Improving the food safety is the major challenge for seafood producers.
– The key factors which drive the global market are rapidly growing travel and tourism industry along with rising preference for packaged food products among consumers across the globe. The macroeconomic factors which drive the sealed tray food packaging market are emerging economies such as China , Brazil and India , a rapid rate of urbanization and rising per capita income of consumers.
– Transparent food packaging market witnesses an increasing demand owing to consumer's need for visual validation of the food which is ensured through transparent packaging. Another factor that propels the growth of transparent food packaging market is the need of the food brands to strengthen its brand image in the competitive market.
– The global market is anticipated to expand at a double digit CAGR over the forecast period. Asia Pacific market is expected to be the most attractive market for fresh food packaging in view of the increasing export of fruits and vegetables from China and India .
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